P&ID judgment: FG seeks INTERPOL action against directors

P&ID judgment: FG seeks INTERPOL action against directors

- The federal government is planning to lodge a petition against directors of P&ID company at the International Police (INTERPOL)

- The FG is also considering a fresh suit for tortious liability against P&ID over the judgement

- According to a source, FG is weighing more options in the ongoing appeal against the $9.6 billion P&ID judgment

The Nigerian government has vowed to lodge a formal complaint with the International Police (INTERPOL) against two top executives of Process and Industrial Developments (P&ID), over the recent $9.6billion debt judgment by the court against the country.

The Nation reports that the federal government in its petition may ask the INTERPOL to place two officials of P&ID - the co-owner, Brendan Cahill and Adam Quinn, the son of the owner of the company - on the watch list of security agencies.

It was also gathered that the FG has concluded plans to continue with the prosecution of the suspects and companies involved in the alleged conspiracy that resulted in the judgment.

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A source within the government said the FG is weighing more options in the ongoing appeal against the $9.6 billion P&ID judgment.

The source said: “We know the Irish firm and its backers are also not relenting in legal ambush against Nigeria. We have uncovered their plans which we will frustrate."

“One of the legal windows is the possibility of instructing our lawyers to file a fresh suit to set aside the arbitral award given the fraud unearthed by the Economic and Financial Crimes Commission (EFCC) before a UK Court."

“We might also consider a fresh suit for tortious liability against P&ID," the source added.

Meanwhile, Legit.ng previously reported that Nigeria's minister of information, culture and tourism, Lai Mohammed, had said legal documents are being prepared to enable FG to enable confiscate assets of the P&ID in Nigeria.

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Mohammed said the FG os working on instituting an action to set aside the entire award of $9.6bn on the grounds that the award did not take into cognizance, the fraud involved in the entire process.

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Source: Legit

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